Regarding resume of acquisition (purchasing) of own shares of AB “Linas”
Considering to the resolution of the repeat ordinary meeting of the public company LINAS shareholders (hereinafter – the Company) held on 16 May 2019 (hereinafter – the Resolution of the Meeting) on which basis the Company’s acquisition own shares was approved and the Company’s Board was instructed to adopt decisions on acquisition of the Company’s own shares, to organise acquisition and sale of own shares, to establish the procedure, time of acquisition and sale of shares, number and price of shares, as well as to perform other actions associated with acquisition and sale of own shares in accordance with the conditions laid down in the Resolution of the Meeting and requirements of the Republic of Lithuania Law on Companies, the Company’s Board adopted a decision to resume repeat acquisition of the Company’s shares on 24 February 2020 under the following conditions:
- To acquire up to 10% (no more than 1 852 028 psc.) of own ordinary registered company shares with a par value of EUR 0.29 each;
- The share acquisition price is EUR 0.10 per share;
- It was intended to acquire the Company’s securities in the stock exchange NASDAQ Vilnius, AB by official offering from 25 June 2020 till 9 July 2020 (inclusive). Orders to sell shares shall be compiled during the whole time of share acquisition. If the supply of shares exceeds the number of shares to be acquired, the number of shares to be sold shall be reduced for all sellers of shares proportionally.
The Board of the Company, by adopting the decision to resume acquisition of the Company’s own shares, sought to determine the share market price and to provide the shareholders with the most advantageous conditions for sale of shares.
The share market price on the date of the Board meeting, calculated according to Article 34(1) of the Law on Securities (the average market price during 6 months when stocks are traded on regulated markets), is EUR 0.0947. The Board, by seeking to activate the securities market, decided to acquire shares for EUR 0.10 each.
AB “Linas” chief of finance
+370 45 506100